suntanzbypru

Hello all, it's been awhile... I sold my Salon 4 years ago, and am now thinking of buying one out of bankrupcy.....


6 Sunstar 332 atlease 5 yrs old, but have been very well kept.
1 Solar Force 648 ( I am not sure about the age of these, but the stand up is the newest)
1 Solar Force 652v

Every thing is (as was) when the doors closed, it's a pretty nice facility, but the building is leased... I'm not sure what the lease will be, as the strip mall was just purchased by a local realor. I'm guessing somewhere around 1200-1500 a month. I'll be calling tomorrow to find out for sure.

The area is a pretty good area, in Tennesse outside of Nashville... I am just wondering what a good bid would be on this.. 20k is the minimum bid, and there's atleast 1 other person interested.

has T-Max Manager Pro/Monitor/Computer/Refrigerator/small drink cooler in the lobby/Stereos/Credit Card Proccessor/Security Cameras/Employee lockers/ furniture/staff shirts (although I'll changed the name) only about 1500.00 in product inventory/new buck booster/bar code scanner/washer dryer/TV/ Open sign/Credit card processor/printer

I just am not sure what's going on in the industry now days. I have been back and forth with this salon since moving here. I tried to buy it when I first moved, and it wasn't for sale then.... then was contacted and offered to buy, and was having health issues and passed it by(60k).. it sold... and the new owner called after 3 mos. wanting to sell it to me (65k).... I wouldn't give her what she was asking, as she was going to profit , I knew what she gave.(57-58k) anyway, she paid out for hired help, and then stuck a sign on the door and left all the clients losing their packages.... I just am so undecided about this...

The bank has the value listed at about 50k..... but is it worth that much, especially since so many are going to be ****** that they lost their packages with the previous owner??? And it's changed hands from the person that opened it, to 2 other owners...I'd have to change the name of the buisness, I think that would be my best bet to get those tanners back... also... there's really no competition.. a Captian video/tanning, which is absoultely filthy.... I just bought my own bed for my home, I could never tan like a customer after owning my Salon for 5 years.... I just really need you to give me some advice, and update me on what's going on out in the tanning world.. I've been out of the loop for 4 years, and if there's anything I know, it's that nothing stays the same!!!

Any advice is appreciated very much..

Please talk to me!!! LOL

theislandtan

You know... I enjoy our salon and hate hearing all the bad news, but until the Fed and FDA figure out what they are going to do I'd hold off on buying in to tanning.

If you can pick it up for around 20K and have the ability of floating it till business comes back without it hurting you financially then maybe give it a try. You'll need to add some bigger beds. We have the 332's as out second level and like them, but there are much bigger/stronger beds to sell upgrades to.

Our salon was open for a few years and then closed for a good while before being opened by the people we purchased from. The only had it for a couple months before we got it from them. We didn't have any trouble with the old name or way it was run, but your clients may have a fresher memory.

If you buy, buy it soon. You'll want to open and have everything in order before Feb, probably even the start of next month. Open to late and you'll miss the busy season...

caribbean tan man

right now at my salon slow seasons are horrible and busy seasons are out of control..been like that since 08.

if u can get it around the 20k, change the name, work most the hours, and run it right how could you not survive. youll probably need a bigger bed or booth instantly.

id let clients that got burnt visits have them back if they buy a package from you..if you have proof (database records) of what they lost...otherwise everyone will have visits left.

you need to get lease term and price 1st, this could be why nobody survives there. to much rent.

if u dont do soon you wont be able to fully captue the season

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Brian Oshman

Offer 10k

pete

I agree get the best deal you can

suntanzbypru

I am scared to death about opening a Salon right now to be honest! I don't know how Cap and Trade will affect our electricity, or how the new health care catastrophy will affect regulations on Indoor tanning. I DO know however, that I am in a growing area, suburb of Nashville, and the ONLY tanning place there is a Captain Video... and it's filthy... really.... The reason this Salon went into bankrupcy is because the new owner thought it would run itself... she had no people skills, and just credit carded herself into a pit.... My previous salon without building I sold for 135k in a rural area in Arkansas... population of the town 6000..... So, I keep telling myself that I CAN do it, because I've done it before.... the indesicivness is killing me though.... really..... my mind is worn out!!!! Talk to me tanning owners.... this salon will be in a town with money.....population around 10,000............. no real competiton other than Captain video.... gaaaahhhhhh I'm dying here!

engfant

Buy now when it's cheap cause it won't be for long.

megatanman

I agree,i would not put to much stock in the FDA crippling the tanning industry or even cap and trade.Right now electricity is lower for us than it was in 2006.

I just looked at an electric bill from 06' we used 6900 kwh in the month of Oct in 06'.The bill was a little over $800

This year we used 6600 Kwh in October and the electric bill was $500.

You need to do some homework,don't assume the sky is falling because "somebody" says it is.

suntanzbypru

I agree that my electric here in Tennessee will not be as high as my salon in Arkansas... they charged you for your peak.... so, if I turned on everything in my salon, beds running, washer dryer, and everything else.. that was the rate I was charged for the whole month... like going to McDonalds buying 1 Big Mac and getting charged for 100... so anything here has to be better than that.... However, homework, I have done, and my reference is from the comment made by Obama himself.... so, I don't think you can get any closer than that. I don't believe anything anyone "tells" me.... so why am I even here???... LOLOLOL.....

I'm just scared I suppose, being out of the industry for 4 years, maybe I'm looking for some way to build my confidence in myself agian. IDK??? My lease will be higher here though... there it was 1000 a month... here...well, just not real sure where to go, or how big to start out with.... I found out that the owner of the strip where the salon sits now, is committed to a realtor that works for him that's also wanting the business... so, he has pretty much said if I should get the bid on the existing equipment... I'll have to move it.. which really sucks. So now I'm in the process of having to look for a place, and get my buisness plan together.. and look for beds, because the solarforce 332 are from 03 and they aren't of any use to me really, especially if I have to move them... the 2 larger beds are the only equipment worth moving really.. trade in the others maybe get 500-1000 dollars tops???? I'm just really feeling overwhelmed...I had the Ergoline Ambition beds in my other Salon, and 2 ergoline bronzers.... no real high powered equipment, but had room to add in the future when needed. I wasn't able to have my new salon but 6 mos, my husband was laid off and we had to sell out and move here... I'm just really wondering, and fretting here!

trackerbuddy

I think you have made the important points clear to yourself. The space is not available in the current location and some of beds are not what you would consider to be "good enough" for your salon. So you would be buying some beds and trying to open a shop in less than 60 days including buildout and liscensing. If this were a turnkey operation it would be a different story.
Has the equipment been repossessed by the bank or is it in bankruptcy. Two different things. If the bank owns it they will sell trying to recoup as much money as they can. If it is bankruptcy then the trustee is in charge of selling it to get as much money as possible for the creditors who are owed. However the trustee has to go through the proper procedure which is normally but not always an auction. Either way the bankruptcy court tends to move a little slower specially in this economy, they are overloaded with cases.
My advice, if you can't move in turn on the lights and be open by the 1st of February it would be best to pass on this opportunity. If you liked the industry and feel you can succeed in your market start planning on next year. Buy used equipment and place it in storage (it's really cheap right now) find the perfect location with low rent (commercial real estate is struggling take advantage of that) build out as needed and open with the knowledge it will take time (three years) and effort (you working the hours) to make a profitible business.
here are some links to tanning equipment auctions just fyi
http://www.proxibid.com/asp/Catalog.asp?aid=24446
http://www.auctionzip.com/Listings/753500.html
http://www.proxibid.com/asp/Catalog....ing&sort=0#Top

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